October 23, 2019 / 9:42 AM / 23 days ago

Elevator-maker Kone beats profit expectations in Q3

HELSINKI, Oct 22 (Reuters) - Finnish elevator maker Kone reported higher than expected quarterly profits on Wednesday, which it attributed to improved pricing and efficiency.

The company is seen as a potential bidder for the elevators business of German industrial group Thyssenkrupp, with reports it has offered around 15 billion euros for its German rival.

Kone’s third-quarter adjusted operating profit rose 17.6% from a year ago to 322 million euros ($358 million), beating the average forecast of 309 million euros collected by the company from 20 analysts.

Shares in Kone rose nearly 2% after the results.

$1 = 0.8994 euros Reporting by Anne Kauranen; Editing by Susan Fenton

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